TEXTILE TRADE FAILURE
FENTON ASSOCIATION, LTD. . CAPITAL OF £2,000.000. Australian and N.Z. Cable Association. lEecd. 11-30 p.m.; LONDON, Aug. 27. ! A sensation has been caused in the I heavy woollen trade by an announcement \ issued by the Fenton Textile Association, j Ltd., of Bailey, Dewsbury, and Leeds, that I owing to the recent extraordinary fall in I stock values, the consequent restriction i of credit facilities, and the general ; abnormal state of the textile trade, the firm has been relnctantJy compelled to apply to the High Court for the appoint- , ment of a receiver. The firm is one of the most important ■ wool textile concerns. It was turned j into a company in 1919, and acquired •< : number of old-established businesses. Its capital is £2.000.000. of which Mr. Henry ' Fenton, chairman, holds £1.010.000. prac- ' tically the whole of- the issued capital I The firm's solicitors state that, with I
; the goodwill and co-operation of the directors, they are of opinion that credij tors, both secured and unsecured, will no' | sustain any loss.
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Bibliographic details
New Zealand Herald, Volume LVIII, Issue 17872, 29 August 1921, Page 5
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171TEXTILE TRADE FAILURE New Zealand Herald, Volume LVIII, Issue 17872, 29 August 1921, Page 5
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